Looking for value in the shadows of the market. I am Stockcoach, and this is my story.

Thursday, January 18, 2007

Out of PEAK and FNLY

Looks like I may have selected the wrong answer in my little reader poll off to the left as RACK continues to vex me greatly. Anyhow, I am not sure what to make of the recent market action. I am not too inclinded to read much into it. Most likely this is not the beginning of a major correction. However, I'm not inclined to take any chances. With that in mind, I pruned two of my less favorite stocks: FNLY and PEAK. The portfolio didn't get too badly hurt today, down 0.2 percent. MACE helped a bit. I wish they would just take the $3 buyout offer that they were given. I think MACE, along with OCCF, has two of the worst managements of all the companies I currently own. I'd be happy to part with both if the price were right.